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An overview to buying properties in goa

Updated on November 8, 2014

In the past Goa was just seen as an ideal location for people planning a trip, but now you can find the state pretty developed with it comes to real estate. Thanks to individuals with a very high spending power and other richer blokes, Goa is definitely the place for people who are interested in a second home to be investing their money.

The reason behind the success of Goa’s real estate market is relatively simple, it is pretty cheap. The prices of places in Goa are a lot lower than the amounts you would spend in major cities like Mumbai or Delhi. The only other difference would be the returns on your investment, or rather the higher returns on your investment.

Furthermore, many areas in Goa aren’t explored and are just the way they always were causing people to start exploring and building large projects as land here is relatively cheap. Huge colonies are being developed in the hinterlands of the state and people are just rushing to them and getting them at amazingly low prices.

Leading builders from across India are coming to the state and developing land here as they know they will receive amazing returns on their projects soon after completions. Statistics and past research show that property investors from Mumbai were the first to start investing in Goa when they bought land in the state in the 90s for amounts like 15 lac and started leasing it out to tourists, who weren’t that many during those days. Most of the people investing in land in Goa used to visit Goa on holidays back in the day and after realizing that they can get cheap land here began investing in a second home in the state.

An overview to buying properties in Goa show that there isn’t a single part of Goa that isn’t being developed rapidly. If you are a Goan and leave the state for a few years, upon returning, you won’t recognize the place you knew and called home. Other than people from other states of India, nonresidential Indians are also seeing Goa as an amazing location to spend their retired life.

The only reasons property prices rise or fall in the state is location, as some location are more expensive than others, and this too by a huge margin, or the facilities they have to offer. Many builders try to woo their buyers by offering them various incentives along with their apartment or flat. Furthermore, many incentives may come along with the place, like parking and backyard pool and so on.

Lately, Goa has seen a new development of companies buying land to put up major projects like malls or business centers and so on. Many international brands are eyeing the state to launch their brands in showrooms here. Furthermore, the hospitality industry has started investing in land for giant hotels and resorts. All these developments are going to increase the prices if land in the state to a new high.

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